Warner Bros Discovery is pursuing a strategic separation into two distinct companies focused on reviving its media fortunes. This split will segregate its premium franchises like Warner Bros movies and HBO from its traditional linear TV networks, such as CNN and Discovery. This comes just three years post-merger, prompted by declining share values. The restructuring aims to provide sharper focus and flexibility to compete in the media landscape, alleviating some measures of its $37 billion debt, with David Zaslav leading one entity and Gunnar Wiedenfels heading the other.
By operating as two distinct and optimized companies in the future, we are empowering these iconic brands with the sharper focus and strategic flexibility they need to compete most effectively in today's evolving media landscape.
The traditional TV business, known as Global Networks, will own up to 20% of the studios and streaming business led by Zaslav, which it will use to pay down its debt.
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